PROFITS IN WOOL.

Taranaki Daily News, 21 January 1920, Page 5

PROFITS IN WOOL.

FOUR HUNDRED PER CENT. 3y TelesMPb.:—.Prow tosn.— Copyright, Received Jan. 20, 7.30 p.m. : "'' London, Jan. 17. It was disclosed before the Central Profiteering Committee that the profit made in the West Riding wool above the fair margin fixed by the War Office was four hundred per cent. It is alleged the Government is also making colossal profits. Committeemen who participated in the wool investigation deplored the Board of Trade's failure to publish sectional reports Mr Sidney Webb said that when the public learn the facts there will be a howl of execration. What is happening with worsted yarn is also happening with cotton and metals.

Sub-committees reported that there is no evidenco that a Trust is profiteering in fish land tobacco.—Aus.-N.Z. Cable Assn,

LARGE GOVERNMENT PROFITS. AUSTRALASIXsHOULD SHARE THEM. Received Jan. 20., 8.35 p.m. London, Jan. 19. The question of wool profiteering continues to excite great interest. The Profiteering Committee on Trusts. The considering the question of the publication of reports in the matter. Meanwhile the Director-Gtoeral of Raw Materials officially admits the Government is Bellinsr wool from Australia and New Zealand at profits running into many millions sterling. It is said that the Government is selling better qualities at prices very much higher than the prices fixed in the Dominions' contracts, but the Dominions understood this would be done after the war and that they would receive half profits. 'He declares as regards wool supply that Australia helped more than any other country during the war. Theji they made practically no profits. He emphasised that at present farmers in Australia and New Zealand are not doing as well a» fanners in Britain, South Africa, and India, who were obtaining the top market price without sharing the profit with the British Government. Moreover, he compared the situation with cotton, pointing out that Egyptian cotton had risen from 27 pence to sixty pence per pound and Egyptian* were securing the whole profit. 'lie declared the Government would be committing a great breach of faith unless Australasia now got the benefit of the rise in prices.—Aus.-N.Z. Cable Assn.